A group of folks let go today via online meeting. I think it's mostly people that came over with the Caliber Mortgage acquisition.
20 replies (most recent on top)
2 weeks of pay for each year of service. If less than 1 year, nada. Nothing else.
What did the severance package look like?
Caliber. And no PTO payout. They sent an email out end of 2021 that said it would not be paid out at termination.
For those of you laid off, what happened to your PTO? And were you legacy Caliber or NewRez?
I was a processor included in the 09/28/22 layoff. Does anyone know how many were included in this last wave of layoffs?
There were more layoffs today 09/28/2022.....
If you are a loan officer, New American Funding is Hiring in all states. I have Texas remote positions available. Kevin.Keen@nafinc.com
Newrez Ocwen PHH
Issue other than the current market is their “identity crisis”’
Mt Laurel peeps know what imma talking about, no matter what PHH will call themselves—- we all know y’all will #STILLSUCK
Me and my manager were let go on Tuesday. Fortunately I saw it coming given how much rate has risen. I signed a new job offer on the same day :) good luck everyone!!
All of product management and product design were let go.
Entire development teams. All contractors.
I'm really surprised they were able to keep this out of the news and WARN ( Worker Adjustment and Retraining Notification )
They let me go after 4 years; just to slap me with a 2 weeks per year of service severance… 😂😂😂
I was one of the individuals they let go via the Teams Meeting on 09/20; it was random, my manager and supervisor were completely caught off guard. “Market decisions” they say! I wasnt on an write ups or corrective action plans, they just let us go!
and about 100 UW's as well along with UW Managers. The NewRez/Caliber thing--unfortunate and not a good plan-been horrible on both sides for ALL of us since this happened, we never really merged into one company--all about the $$$$'s it appears; time with company means nothing; One of the UW Managers there almost 30 yrs-gone (and the best one they had), myself 15. Maybe companies should save for rainy days as they come in this industry----and be a little more loyal to those who have been loyal for years
I was a loan processor at NewRez for over 2 years and got let go with 40 other processors and at least 30 Jr. Processors on the DTC team on Tuesday.
word on the street is that a total of 1,100 people were terminated
All of the broad market loan officers laid off at the head office In Dfw. All of processing and underwriting fired yesterday.
Unfortunately not majority Caliber this time, I don’t think. The NC branch is almost entirely gone. I’m surprised they didn’t just close the branch, there are so few remaining. 2 sales managers, I want to say less than 20 loan officers. The entire operations department that worked out of that office is gone. Upper management, even VPs, are gone. Those remaining are expecting they’ll be told the branch is closing soon because of how few are left.
Confirmed. Two were laid off in my department today.
I know firsthand numerous people in Operations, including several VPs, compliance staff, people from Closing & Funding, and National Ops support staff. The loss of talent from the people I personally know about alone is astounding.
What area(s)?